Despite Ripple’s impressive defense against the Securities and Exchange Commission over the past year, XRP price remains as vulnerable as the rest of the crypto market, with a tumultuous tumble still gripping the XRP price.
This article will provide an analysis of XRP’s current price trends and look to see whether an innovative new meme coin, PEPU, represents a more promising investment opportunity at this time.
BREAKING: TA charts confirm FINAL SHAKEOUT FOR $XRP before Surge to $16.89 per XRP
Hit the Like button, if you are HOLDING XRP!! pic.twitter.com/m3XmxGoEbH
— CryptoGeek (@CryptoGeekNews) July 7, 2024
Sentiment on Crypto X (formerly Twitter) remains mixed, with many calling for one final ‘shakeout’ (a dip seeking to trigger sales by paper hands and reduce open interest) before the XRP price can shift to the upside.
XRP Price Analysis: As Ripple Price Remains Bearish – Is a Shakeout Due Or Are Prices About to Fly?
As XRP price remains low in its well-established descendant trading channel, Ripple is currently trading at a market price of $0.43 (representing a 24-hour change of +3.96%).
This is the sixth day of consecutive suppressed price action, which has been caught under a hard ceiling from the descendant 20DMA, currently at $0.46.
Consequently, XRP price analysis reveals the predicament facing XRP traders, with price action seemingly trapped between a rock (support between $0.40-$0.41) and a hard place (the 20DMA).
For now, price action appears to be consolidating successfully above lower support at $0.42 – posing price for a retest of this upside resistance.
This view is supported by a cooled-off RSI, which is sat in coiled-up bullish poise at 38.41 in reflection of the major upside capacity of XRP’s ongoing trading channel.
Overall, while XRP price analysis depicts the challenge of the chart, a well-defended consolidation, and a bullish RSI suggest an upside retesting of 20DMA support is likely the next move.
For this reason, eagle-eyed traders have honed in on Pepe Unchained (PEPU) as the next big trade.
Why Are XRP Traders Buying Pepe Unchained (PEPU)?
Despite XRP’s bullish form in the short time frame, even if successful, upside moves would only net meager gains.
This leaves disparate XRP holders still awaiting the mysterious dragon of $1 XRP, seeking better opportunities over the next two months – to supercharge their returns and hedge recent underperformance from their beloved Ripple stacks.
At the top of everyone’s must-buy lists is an unlikely suspect: Pepe Unchained.
Wait… XRP traders are scrambling into a presale? What?!
It’s no secret that presales have caught flack in the 2024 market; scammy developers across the Solana space have made a killing in recent months – enticing investors to participate in meme coin presales – only to rug the projects.
This is a scourge that must be banished from the crypto space. At its heart, it is an issue-driven primarily by coins lacking the utility needed to sustain strong buy pressure.
This utility aspect explains why a jaw-dropping $2.7M has already been raised for PEPU.
The best way to think of Pepe Unchained is Pepe 2.0, a highly scalable layer-2 solution that enables ultra-cheap deployment on Pepe.
Sound familiar? That’s because the second-biggest meme coin, Shiba Inu, has already done something similar – with the deployment of Shibarium last year – to great success.
So don’t miss this chance to get in early on the next major play in the Pepecoin community.
Buy PEPU Here
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